Selling Your Salem Oregon Home With Home Warranty
In recent years of ever-increasing fees by service repair companies and continued belt-tightening by home buyers, the provision of home warranty protection plans by sellers has become a rather common--and even expected--incentive. The knowledge that they won't be hit by unexpected repair bills in the first year after purchasing their Salem Oregon home is reassuring to buyers, especially first-timers who have no experience in home maintenance.
A home warranty plan is essentially a service contract that covers a major housing system, for example, plumbing or electrical wiring -- for a set period of time from the date a house is sold. The warranty guarantees repairs to the covered system and is renewable.
How Much Does a Home Warranty Cost?
They are fairly inexpensive, typically ranging from $250 to $400, depending on coverage. Home warranty companies sometimes run special sales and either discount policy prices or offer additional coverage for the same price. The policies are prepaid for a year in advance, at which time they expire or can be renewed.
How Do They Work?
Although specific plans provide for specific types of coverage, most operate the same way.
If a home system or appliance breaks or stops working, the home owner calls the home warranty company.
The home warranty company calls a provider with which it has a business arrangement.
The specific provider calls the home owner to make an appointment.
The provider fixes the problem. If an appliance is malfunctioning and cannot be repaired, depending on contract coverage, the home warranty company will pay to replace and install the appliance.
The home owner pays a small trade service fee (less than $100).
Types of Coverage
Because all plans differ, you will want to ask specifically what is covered. Ask your real estate agent to recommend a proven plan and inquire if upgrades are available for your Salem Oregon home. Pay close attention to whether the home warranty company will pay for repairs to make certain types of systems or appliances compliant with new regulations and be aware that they won't pay for pre-existing conditions. Usually covered are heating and cooling systems, water heaters, appliances, electrical systems, inside plumbing stoppages, ductwork, ceiling fans, and garbage disposals.
Advantages Of Offering a Warranty Plan
Home warranty companies profess that in addition to providing buyer peace of mind, the protection plan you provide for your Salem Oregon home prevents many post-sale disputes, speeds up the sale, and helps to bring in a higher price. They also suggest that you take out such a policy during the listing period to provide peace of mind to you, the seller, too!
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